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Nokia to sell HQ in Finland but no plans to move

Nokia will sell its Helsinki HQ but says it has no plans to leave Finland.
Nokia will sell its Helsinki HQ but says it has no plans to leave Finland.

Nokia plans to sell its headquarters in Finland as part of a cost-cutting program, but says it will maintain its corporate base in the country.

Spokeswoman Maija Taimi said selling the building known as "Nokia House" near Helsinki is one of the options the cellphone maker is considering as it disposes of noncore real estate holdings.

She said the company had no plans to move out of Finland.

Ms Taimi declined to comment on media reports that the property could fetch up to €300 million.

Struggling against fierce competition in the smartphone race, Nokia has announced 10,000 job cuts and is streamlining operations in a move to save €1.6 billion by the end of 2013.